Keefe, Bruyette & Woods Has Lowered Expectations for Rocket Companies (NYSE:RKT) Stock Price

Rocket Companies (NYSE:RKT) had its price objective decreased by research analysts at Keefe, Bruyette & Woods from $20.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 17.65% from the company’s current price.

RKT has been the subject of a number of other research reports. Barclays dropped their price target on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday. Wells Fargo & Company upped their price objective on Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Bank of America boosted their price objective on Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Wedbush restated a “neutral” rating and set a $13.00 target price (down previously from $18.00) on shares of Rocket Companies in a research report on Wednesday. Finally, UBS Group lifted their price objective on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.13.

Rocket Companies Stock Down 0.4 %

Shares of NYSE:RKT opened at $13.60 on Thursday. The stock has a market capitalization of $27.06 billion, a P/E ratio of -85.00 and a beta of 2.46. The stock’s 50-day moving average price is $17.54 and its 200-day moving average price is $16.26. The company has a current ratio of 15.47, a quick ratio of 13.18 and a debt-to-equity ratio of 1.51. Rocket Companies has a 12-month low of $8.81 and a 12-month high of $21.38.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The business had revenue of $647.00 million for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned ($0.01) EPS. Rocket Companies’s revenue for the quarter was down 46.2% compared to the same quarter last year. On average, equities analysts anticipate that Rocket Companies will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Companies

Several large investors have recently added to or reduced their stakes in RKT. Swiss National Bank raised its holdings in shares of Rocket Companies by 4.1% in the first quarter. Swiss National Bank now owns 237,000 shares of the company’s stock valued at $3,448,000 after acquiring an additional 9,300 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Rocket Companies by 24.9% during the first quarter. First Eagle Investment Management LLC now owns 44,540 shares of the company’s stock worth $648,000 after acquiring an additional 8,891 shares during the last quarter. Rockport Wealth LLC acquired a new stake in Rocket Companies in the 1st quarter worth approximately $291,000. EntryPoint Capital LLC purchased a new stake in Rocket Companies during the 1st quarter worth approximately $77,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Rocket Companies by 7.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,389 shares of the company’s stock worth $836,000 after buying an additional 3,858 shares during the period. 4.59% of the stock is owned by hedge funds and other institutional investors.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.